Corazon gets keys to the car at Miriam to kick off major WA nickel-lithium exploration program

Corazon Mining will begin on-ground exploration at the historic Miriam project in WA after securing the grant of prospecting licences from the State’s Mines Department.

The news three of the five licences have been granted at the project, where nickel sulphides were discovered in the late 1960s, paves the way for the start of a moving loop electromagnetic survey, designed by Corazon (ASX:CZN) to test the extents of drill defined mineralisation.

Prospective for nickel, lithium and gold, a previous ground EM survey with outdated technology in 1999 detected the top of the Miriam deposit 10km south-southwest of Coolgardie, where historic drilling outlined a 150m wide mineralised zone to a depth of 150m.

But modern technology is much stronger, with more powerful geophysical systems and more sensitive detectors expected to outline deeper mineralisation.

Ideally suited to detecting bedrock conductors such as massive sulphides and minimise noise from conductive cover, the survey will cover the approximately 2.4km trend at Miriam on 100m spaced lines with 100m spaced stations with SQUID sensor, the latest technology.

Discovered in 1969

Surprisingly little active exploration has been undertaken at Miriam despite its discovery way back in 1969.

Located on the same ultramafic trend as Auroch Minerals’ Nepean nickel mine, the discovery hole 54 years ago returned an impressive 9.6m at 5.6% nickel.

Subsequently drilled to 300m below surface, other strikes included 12.5m at 0.56% Ni, 3.2m at 2.59% Ni, 0.9m at 5.57% Ni and 6.1m at 0.9% Ni.

But here’s where the opportunity lies. While subsequent drilling after the initial program extended to about 300m below surface, much was shallow percussive drilling that did not reach the ultramafic footwall target.

And ever since, the project has largely been in the hands of gold companies with little interest in its nickel endowment.

Some was completed in the mid-90s and early 2000s, but many leaps and bounds have been taken in electromagnetic geophysics since Miriam was last seriously explored.

Battery potential

And the prospectivity of the Miriam project, which has been added to Corazon’s Lynn Lake nickel-copper-cobalt project in Canada and its Mt Gilmore cobalt project in NSW to take pride of place in the explorer’s portfolio, has been expanded with the emergence of the battery metal industry.

Not only are nickel sulphides a key ingredient in many lithium ion batteries, Miriam is also prospective for lithium itself.

Corazon announced the discovery last week of a lithium bearing pegmatite, with a lithium exploration program to be carried out in parallel with its nickel focus.

Surface geochemical sampling is planned to be undertaken as a priority, testing for indications of lithium bearing pegmatites under shallow soil cover, within the project area.

This article was developed in collaboration with Corazon Mining(ASX:CZN), a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Corazon gets keys to the car at Miriam to kick off major WA nickel-lithium exploration program appeared first on Stockhead.

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